602-312-9571You found the right house, negotiated a fair price, and then the appraisal came in below the contract. Or you’re refinancing and the value landed lower than you hoped. A low appraisal is frustrating, but it isn’t always the end of the road. In many cases, you can ask the lender for a reconsideration of value.
This guide explains what a reconsideration of value (often shortened to ROV) is, when it’s worth requesting, what kind of evidence actually helps, and what your options are if the value doesn’t change. It’s written for buyers, sellers, and homeowners across the Phoenix metro and Pinal County.
It comes from Firebird Appraisals & Consulting in Gilbert. Our lead appraiser, Gabe Trevizo, is an Arizona certified appraiser (license 22146) and a VA designated appraiser who has been appraising homes across Maricopa and Pinal counties since 2005.
What Is a Reconsideration of Value?
A reconsideration of value is a formal request, sent through the lender, asking the appraiser to take another look at the report. It’s not an argument about what you want the house to be worth. It’s a chance to point out specific, factual information the appraiser may have missed or gotten wrong, such as a comparable sale that wasn’t considered or an error in the home’s square footage.
Two points are important to understand up front:
- It goes through the lender. On a loan, the appraiser’s client is the lender. Buyers, sellers, and agents generally shouldn’t contact the appraiser directly to push for a different number. Your request goes to the lender, which decides whether to send it to the appraiser.
- The appraiser stays independent. The appraiser will review the new information and either revise the value or explain why the original conclusion stands. Pressure to hit a specific number isn’t allowed, and a good ROV doesn’t ask for one.
Many lenders now have a written process that lets borrowers request a reconsideration. Ask your loan officer how theirs works, what form they use, and how long they typically take to respond.
Why Appraisals Sometimes Come in Low
Not every low appraisal is a mistake. Sometimes the market simply doesn’t support the contract price, especially when buyers stretched to win a home in a competitive moment. Other times, there’s a real issue worth raising. Common reasons include:
- Comparable sales. The appraiser may have used sales from a different neighborhood or subdivision, or missed a recent closed sale that’s more similar to your home.
- Square footage or room count. A measurement error, or a question about whether an addition or enclosed patio counts as living area, can change the value. Our guide on whether an Arizona room counts as square footage explains how that works.
- Features that weren’t noted. A remodeled kitchen, a newer roof or HVAC system, an owned solar system, or a pool might be missing or described incorrectly.
- Condition or quality ratings. If the report rates the home’s condition lower than it really is, the adjustments can follow.
- Location factors. Backing to a busy road, a canal, or a golf course can affect value up or down, and it matters whether the comparables share those features.
Is It Worth Requesting an ROV?
Before you start, read the full appraisal report, not just the value on the first page. Ask yourself whether you can point to something specific. A reconsideration has the best chance when you can show:
- A factual error in the report, like the wrong bedroom count, bath count, lot size, or square footage.
- Closed sales that are more similar to your home than the ones the appraiser used, and that closed within a reasonable time before the appraisal.
- Features or upgrades that were left out or misdescribed.
An ROV is much weaker when the only reason is that the value is lower than the contract price, or when the evidence is list prices, pending sales the appraiser couldn’t verify, or an online estimate. Automated estimates aren’t appraisals, and appraisers don’t rely on them.
How to Build a Strong Request
A clear, organized request is easier for the lender and the appraiser to act on. Here’s what tends to help:
- Get a copy of the report. You’re entitled to a copy of the appraisal on a mortgage loan. Read the comparable sales grid and the comments.
- List any factual errors. Note the page and section, what the report says, and what’s correct. Attach proof when you have it, such as a floor plan, permit records, or receipts for major upgrades.
- Suggest up to a few alternative comparables. Choose closed sales that are close in location, size, age, and quality. Include the address, sale date, sale price, and a short note on why each one is a better match. Your real estate agent can usually pull these from the MLS.
- Keep it factual and polite. Skip emotional arguments and avoid naming a target value. Let the facts do the work.
- Submit it through the lender’s process. Use the lender’s form if they have one, and ask what the expected timeline is so your closing date doesn’t get caught off guard.
Timing matters in escrow. If you’re under contract, talk with your agent right away about any appraisal contingency deadlines in your purchase contract.
What If the Value Doesn’t Change?
Sometimes the appraiser reviews the request and the value stays the same. That doesn’t always mean the original appraisal was wrong. When it holds, the usual options are:
- Renegotiate the price so it’s closer to the appraised value.
- Split the difference between buyer and seller.
- The buyer covers the gap with additional cash, if they’re able and willing.
- Cancel the contract if the appraisal contingency allows it. Your agent can explain what your contract says.
On FHA and VA loans there are program-specific rules, so ask your lender how they handle it. Our VA appraisal requirements guide covers the VA’s process for low values in more detail.
Getting an Independent Second Opinion
If you’re not sure whether the lender’s appraisal holds up, an independent review can help. Firebird offers appraisal reviews and second-opinion appraisals. In a review, we evaluate another appraiser’s report and tell you plainly what’s well supported and what isn’t. That can help you put together well-organized evidence for the lender’s ROV process, though only the lender decides whether to act on it. Sometimes the honest answer is that the original appraisal was right, and knowing that early can save you time and stress.
Sellers can also avoid surprises before a buyer’s appraisal ever happens. A pre-listing appraisal gives you an independent value to price from, so you’re less likely to accept an offer the market won’t support.
Serving Homeowners Across Maricopa and Pinal Counties
We work throughout the Valley, including Phoenix, Gilbert, Mesa, Chandler, Scottsdale, Tempe, Queen Creek, and San Tan Valley. See our full service area for more cities.
Frequently Asked Questions
Can I call the appraiser directly about a low value?
On a mortgage loan, the request should go through the lender. The lender is the appraiser’s client and decides whether to send the reconsideration to the appraiser.
What evidence helps most in a reconsideration of value?
Factual corrections and recent closed sales that are more similar to your home than the ones in the report. List prices, pending sales, and online estimates carry little weight.
Can I order a new appraisal instead?
That depends on the lender and loan program. Some lenders won’t order a second appraisal simply because the first one came in low. Ask your loan officer what’s allowed.
Does a reconsideration always raise the value?
No. The appraiser may revise the value or explain why the original conclusion stands. The outcome depends on the evidence.
Can an independent appraiser help with a low appraisal?
Yes. An appraisal review can identify specific, factual issues in a report and help you organize evidence for the lender. It can also confirm that the original value is well supported.
Questions About a Low Appraisal?
Firebird Appraisals & Consulting serves homeowners, agents, and lenders across Maricopa and Pinal counties, with a typical turnaround of about five business days. Call 602-312-9571 or request a quote online.